Australia’s Fitell Adds 216.8M $PUMP to Solana Treasury – Stock Sinks 14% on Debut Buy

Australian fitness company Fitell Corporation has added 216.8 million ￰3￱ (PUMP) tokens worth $1.5 million to its corporate treasury, marking its first direct PUMP purchase as part of its expanding Solana ￰4￱ acquisition, announced on October 2 , shows a deeper commitment to the Solana ecosystem as the company moves forward with its digital asset treasury plan. A milestone backed by ￰5￱ first direct allocation into $PUMP reflects our continued commitment to strategic growth within the @solana ecosystem. We’re just getting started. ￰0￱ — Fitell Corporation (@FitellCorp) October 2, 2025 Fitell Seeks to Become Asia-Pacific’s Largest Public Solana Holder Chief Executive Sam Lu said the purchase reflected the company’s intent to “deepen participation in Solana’s growth story” while diversifying its treasury for long-term ￰6￱ plans to provide periodic updates on future allocations as it scales its digital asset ￰7￱ treasury move comes days after Fitell secured a $100 million credit line to launch what it describes as Australia’s first Solana treasury ￰8￱ company has also begun the process of rebranding as Solana Australia ￰9￱ broader plan includes staking, yield-generating opportunities in decentralized finance, and structured products such as options and liquidity provisioning, with a focus on managing downside ￰10￱ fitness company Fitell commits $100 million to Solana treasury strategy, rebranding as 'Solana Australia Corporation.' #Solana #Treasury ￰1￱ — ￰11￱ (@cryptonews) September 24, 2025 To guide its digital asset expansion, Fitell has appointed David Swaney and Cailen Sullivan as ￰12￱ has worked in digital assets since 2017, focusing on institutional adoption and treasury design, while Sullivan, an early Coinbase employee and co-founder of Solana-based perpetual exchange Adrena, brings over a decade of industry ￰13￱ the high-profile purchase, Fitell’s stock has come under ￰14￱ of FTEL closed at $5.20 on October 2, down 13.62% on the day and nearly 15% over the past five trading sessions.) indicates that 18 participants collectively control 3.1% of the token’s circulating supply, showing a sharp rise in adoption among public companies and investment groups.) October 1, 2025 CEO Heng Wang called the initiative “transformational,” combining AI algorithms with Solana’s blockchain to build a foundation for “next-generation DeFi solutions.” Helius Medical Technologies recently secured $500 million from Pantera Capital and others to build its own treasury, while Brera Holdings raised $300 million for Solmate with backing from ARK Invest and the Solana ￰15￱ Medical raises $500M backed by Pantera Capital for $1.25B Solana treasury with stock surging 159% after announcement. #Solana #Treasury ￰2￱ — ￰16￱ (@cryptonews) September 15, 2025 Forward Industries, meanwhile, completed a $1.65 billion financing round led by Galaxy Digital and Jump Crypto and is preparing a $4 billion equity program to tokenize its shares on ￰17￱ momentum coincides with Solana’s strong market ￰18￱ September, SOL outpaced Ethereum with a 26% monthly gain versus ETH’s 8%.

Analysts suggest Solana could continue leading in Q4 , with upcoming upgrades like Firedancer and state compression, alongside the potential approval of a Solana ETF in October.